yx'.::.i 


^     THE     \ 
O  LIBRARIES  % 


tribute  of  the 


Cljamha'  of  (Commerce 


of  the 


•^'tate  of  ^\nu  Hurk 

%^  the  memory  of 
JJrocccMnas  of  the  lieaular  iHeetiui^ 

lielb  April  :i  iyi:i 


0, 


'S^iihutcs  tn  3j^^lp^  Plcrpont  jWinnum 


AT     THE      MEETING     OF     THE     CHAMBER     OF 

COMMERCE    OF    THE    STATE    OF     NEW 

YORK.     HELD    APRIL    3.    1913. 


John  Pierpont  Mor(4AX  died  on  March  31st,  only  four  days 
before  the  regular  April  meeting  of  the  Chamber.  In  view  of  Mk. 
Morgan's  great  position  in  the  business  world,  his  magnificent  ser- 
vices ill  the  development  of  this  country  and  his  long  association  with 
the  Chamber,  it  was  resolved  to  devote  that  meeting  to  a  memorial 
of  Mr.  Mor(4AN.     The  fitness  of  this  was  universally  recognized. 

The  members  were  accordingl\-  notified  ;  anil  when  the  April  !od 
meeting  was  called  to  order,  the  Hall  of  the  Chamber  was  crowded 
by  nearlv  five  hundred  of  the  foremost  business  men  of  the  city,  the 
state  and  the  nation. 

The  following  order  was  carried  out  with  impressive  solemnity: 

ORDER   OF   EXERCISES. 

James  G.  Cannon,  Est;.,  C'hairman  of  the  E.xecutive  Committee 
moved  that,  out  of  respect  to  Mr.  Mor(;an's  memory,  all  business  be 
suspended  until  an  adjourned  meeting  to  he  held  on  April  tenth. 

Introductorv  John  Ci-aflin,  Eso. 

President  of  the  Chamber. 

Address  Senator  Elihu  Root. 

Address  Honorable  Joseph  H.  Choate. 

Address  Robert  W.  DeForkst,  Esq. 

Address  Honorable  Seth  Low. 

Presentation  of  Resolutions  Frank  A.  Vanderijp,  Esq. 


.VDDRKSS  OF  JOHN  CLAFI.IN,   K!SQ.. 
l»UKSiniONT   OF  TIIIO   C'lIA.MIJKlf. 

We  come  together  to-day  in  the  shadow  of  a  great  sorrow. 
J.  PiERPONT  Morgan,  for  fifty  years  a  member  of  this  Chamber  and 
for  four  terms  one  of  its  Vice-Presidents,  lias  passed  away,  c^^he 
greatest  financier  of  his  time,  the  man  who,  above  any  other,  combined 
and  embodied  the  American  ideals  of  enterprise  and  integrity  and 
courage,  has  gone  from  our  earthly  activities.^  Like  the  founders  of 
thisNation,  Mr.  Morgan  had  prophetic  vision  ;  like  them  he  believed 
in  this  country  and  in  its  future  ;  like  them  he  was  an  organizer  of 
scattered  possibilities  and  a  builder  of  mighty  structures  such  as  no 
man  had  built  before. 

Those  who  opposed  him  questioned  his  motives,  belittled  his  achieve- 
ments and  at  times  even  strove  to  make  his  deeds  of  beneficence 
appear  acts  of  rapacity  and  selfishness.  The  panic  year  of  1907 
furnishes  an  example  with  which  we  are  all  familiar.  It  is  well  nigh 
impossible  for  this  community  to  exaggerate  the  debt  it  owes  to  Mr. 
Morgan  for  his  splendid  services  to  public  and  private  credit  then ; 
yet  sensational  criticism  has  often  charged  him  with  promoting  the 
panic  for  his  own  ends.  Happily  the  story  is  plain  and  open,  and 
history  will  make  it  evident  that  he  labored  assiduously  i'or  months 
to  stem  the  rising  tide  of  distrust,  and,  when  finally  it  became  a  wild 
flood  of  fear  and  threatened  to  demolish  all  enterprise,  by  an  exhibi- 
tion of  master-will  and  leadership  unparalleled  in  the  annals  of  finance, 
he  rallied  other  strong  men  to  his  side  to  join  in  untiring  and  con- 
stant work  until  their  combined  efforts  had  stayed  the  rush  of 
destruction. 

We,  his  neighbors,  know  what  manner  of  man  Mr.  Morgan  was. 
We  knew  the  goodness  of  his  heart,  as  well  as  the  greatness  of  his 
mind,  and  it  is  fitting  that  we  should  assemble  here  to-day  to  do  re- 
verent honor  to  his  memory  and  to  bear  witness  to  the  nobility  of  his 
character  and  the  beneficence  of  his  life. 


.VDDUKSS  OFTIIK  HONOU.VIJI.K  KI.IIII^  UOCKr, 

t'NITKl)  S'lWTKS  SKXATOR  FROM   NKM'    VOUK. 

Mr.  Peesidp:nt  and  Gentlemen  of  the  Chamber  :  Mr.  Mor- 
gan's life  is  still  so  near  to  us,  the  sense  of  loss,  the  half  realized  idea 
that  he  whom  we  have  been  nieeting-  here  and  there  in  the  daily  life 
of  the  present,  is  to  be  here  no  more  is  so  vivid,  that  discriminating 
estimate,  is  difficult. 

Nevertheless,  under  the  swift  and  sudden  detachment  of  death  we 
can  already,  vaguely,  dimly,  perceive  his  great  career  as  a  whoh' ;  the 
vigorous  personality  is  seen  against  the  background  of  tremendous 
forces  whose  play  and  conflict  have  been  not  merely  the  storm,  but 
the  development  of  an  amazing  half  century  of  progress  for  civilization. 

When  Mr.  Morgan  became  a  banker  there  was  a  dift'erent  world 
than  that  in  which  we  live.  Then  France  was  an  empire.  Germany 
was  a  geographical  expression  covering,  by  a  reminiscence  of  history, 
twenty  or  more  separate  and  independent  states.  America  was  half 
slave  and  half  free.  The  continent  was  unspanned  save  by  the  emigrant 
wagon;  no  electric  cable  t-arried  communication  under  the  ocean; 
American  banking  was  provincial  and  local ;  steamship  and  railway 
communication  were  in  their  infancy  ;  the  Bessemer  process  for  mak- 
ing steel  was  not  yet  a  success ;  manufacture  was  conducted  by  small 
units;  capital  was  small;  enterprise  was  individual.  During  his 
active  life  as  a  banker  the  most  amazing  development  of  wealth,  of 
capacity  for  production,  of  commercial  intercourse,  of  interchange 
among  the  nations  of  men,  of  transition  from  individual  activity  to 
the  tremendous  power  of  organization,  the  utilization  of  discovery  and 
of  invention,  the  power  of  leadership,  all  transformed  the  world  of  in- 
dustry and  of  commerce,  and  are  transforming  the  social  life  of  the 
world.  The  transactions  of  to-day  would  have  seemed  impossible 
dreams  half  a  century  ago.  The  dreams  have  been  realized  in  this 
single  active  life.  This  change  has  not  been  an  invasion ;  it  has  not 
come  from  without,  it   has  not  been  revolution ;  it  has  been   develop- 


6 


inent  ;  it  has  been  a  growth  from  the  latent  forces  that  existed  lialf  a 
century  ago. 

This,  our  friend  whom  we  honor  and  mourn  to-day,  was  the  first, 
the  commanding  and  controlling  figure  above  all  other  men,  in  this 
amazing  movement  of  the  forces  of  civilization.  First  among  all  in 
our  own  country  emerging  from  its  provincialism  to  its  place  in  the 
great  world  of  finance  and  industry,  then  by  gradual  recognition  of  his 
position  here  and  its  world  influence  first  in  the  world,  the  greatest  of 
bankers,  the  greatest  organizer  of  production,  the  greatest  master  of 
commerce  of  the  world  in  the  mightiest  epoch  of  power  applied  to 
finance,  to  production  and  to  commerce. 

How  came  Mr.  Morgan  to  be  this  commanding  figure?  No  title 
marked  him  for  leadership  to  tiie  common  ai)prehension.  No  office 
created  for  him  a  presumption  of  greatness  to  the  common  apprehen- 
sion. He  had  none  of  the  arts  of  popularity.  He  had  but  little 
capacity  for  expression.  (In  a  country  of  speakers,  of  orators,  of 
influence  from  the  platform  and  of  influence  by  the  printed  page,  he 
was  almost  silent.'~;;;>It  was  only  under  stress  of  deep  emotion  that  his 
power  exhibited  itself  in  words.  The  real  man  was  hidden  under  a 
manner  often  gruff,  always  reserved.  He  was  not  a  man  of  sentiment 
and  expression,  but  a  man  of  feeling  and  of  action. 

How  came  he  to  this  leadership?  He  had,  first  of  all,  constructive 
instinct.  The  instinct  that  moved  him  was  not  to  accumulate,  but  to 
do.  He  cared  little  for  money  for  itself.  It  was  what  he  could  do 
with  it ;  it  was  to  use  it  for  good  ends  and  objects  of  interest  and  desire, 
not  to  have  it.  Not  the  instinct  of  the  miser,  but  the  instinct 
of  the  builder,  moved  him  always.  He  had,  with  this  constructive 
instinct,  extraordinary  intuition.  He  did  not  reason  by  logical  pro- 
cesses. His  mind  went,  straight  as  an  arrow,  to  its  conclusion  by 
processes  that  he  himself  could  not  have  explained  and  of  which  he 
himself  was  not  conscious,  but  it  went  with  unerring  accuracy.  There 
is  a  field  of  the  higher  mathematics  into  which  no  man  can  enter, 
except  those  rare  men  who  come  once  in  a  century  and  whose  minds 
are  capable  of  proceeding  to  a  distant  conclusion  by   processes  uncon- 


scions  to  themselves.  When  sucli  a  man  livts  his  name  becomes  oreat 
in  the  history  of  science.  Such  a  man  in  the  practical  affairs  of  life 
was  Mr.  Mokgan.  The  same  kind  of  intuitive  processor  unconscious 
reasoning  led  him  from  his  premises  to  his  conclusions. 

With  that  quality  he  had,  of  course,  the  quality  of  swift  decision, 
so  that  opportunity  never  knocked  in  vain  at  his  door.  At  the  time 
when  all  thinas  were  possible,  his  decision  came,  and  he  had  that  high 
courage  and  inflexible  resolution  that  gave  to  his  decision  the  qual- 
ity of  absolute  finality.  An  incident — perhaps  a  necessary  incident — 
of  this  extraordinary  quality  of  the  man  was  that  he  carried  a  touch- 
stone for  all  sham  and  deceit  and  pretence,  like  those  rings  of  fable 
or  of  history,  which  could  detect  the  presence  of  poison  in  the  cup. 
With  little  evidence  he  needed  no  argument,  he  needed  no  delibera- 
tion, but  he  detected  the  true  from  the  false,  the  sound  from  the 
unsound,  and  reached  the  bedrock  of  a  business  question  instantly. 
,  Naturally,  with  these  qualities  Mr.  Morgan  was  direct  and  simple 
I  and  frank  ;  never  cunning  or  devious,  never  wasting  his  time  or  retard- 
ing his  progress  by  puttering  about  among  little  things,  among  trifles, 
he  always  went  to  the  main  question  and  decided  that,  and  then  let 
everything  else  follow  that. 

He  had  far  sight  into  the  future,  lie  had  l)readth  of  vision  and 
largeness  of  mind  and  compreliension,  so  that  with  these  great  quali- 
ties he  became  a  great  figure.  He  had  more  than  these.  He  had 
that  imagination  which  could  visualize — that  imagination  without 
which  no  one,  poet  or  banker,  reasoner  or  builder,  can  be  great — he 
had  imagination  and  he  had  faith,  which  not  only  was,  but  gave,  sub- 
stance to  things  hoped  for.  Take  him  all  and  all  he  was  a  man, — a 
great  man.  And  with  these  qualities  had  he  not  genius?  I  think  he 
had.  I  I  think  no  ordinary  talent  can  answer  the  question  why  Mr. 
Morgan  attained  the  leadership  he  did.  I  think  it  was  that  subtle 
and  undetinable  and  rare  quality  of  genius  that  made  him  what  he 
was.    ~l 

So  he  became  a  great  leader  in  great  affairs,  and  his  name  became 
a  guarantee  of  soundness  and  honor  and  good  faith  and  of  success,  so  far 


8 


as  the  exercise  of  inflexible  resolution  could  produce  success.  He  car- 
ried in  his  aft'airs  the  supreme  capital  of  character.  Under  stress  of 
excitement  in  the  Pujo  investigation  he  presented  the  great  truth  of 
character  to  the  wonderment  and  confusion  of  smaller  minds  who  had 
been  thinking  upon  a  lower  plane  than  he  stood  upon.  So  he  found 
the  railroad  system  of  this  country  the  inheritor  of  the  fruits  of  fraud 
and  rapacity.  Railroads  that  had  been  bled  by  their  builders  and 
managers  all  over  the  country  he  reconstructed  upon  the  basis  of 
absolute  integrity,  so  that  faith  took  the  place  of  distrust  and  con- 
demnation. 

Mr.  Morgan  has  been  misjudged  by  many  unfamiliar  with  great 
affairs  who  cannot  see  that  big  affairs  proceed  upon  the  same  principles 
of  morality  as  small  affairs  ;  and  I  would  like  to  say — not  to  you  in 
his  own  city  who  knew  him,  but  to  the  people  in  every  small  town 
and  village  in  our  country  :  Select  from  among  the  people  of  your 
town  the  man  who  is  most  honored,  the  man  to  whom  you  would  go 
for  advice  in  distress,  the  man  whose  word  every  one  believes,  the  man 
whose  example  every  one  desires  his  son  to  follow,  and  in  this  great 
citizen  of  New  York  you  have  the  man  that  bears  the  same  relation  of 
faith  and  honor  and  good  report  to  all  the  great  affairs  of  the  great 
metropolis,  and  of  the  world  of  finance  and  commerce. 
T^Mr.  Morgan  played  no  game  of  chance  ;  he  acquired  no  fortune  by 
deceit  or  overreaching  or  unfair  advantage.  J  He  took  from  no  man, 
but  hti  acquired  a  great  fortune  by  making  the  prosperity  of 
many  and  by  taking  his  fair  and  just  share  of  the  prosperity  that  he 
created.  The  scope  of  his  enterprise  gave  him  a  relation  to  public 
affairs  that  was  unexampled  not  onl\-  in  our  own  country,  but  I  think 
in  any  country.  There  were  so  many  investors  in  so  many  enterprises 
whom  hischivalric  sense  of  lionor  led  him  to  desire  to  protect  that  the 
financial  condition  of  the  country  was  a  matter  of  immediate  interest 
to  him,  and  he  took  the  place  that  Government  should  have  taken 
many  and  many  a  time.  The  faults  of  our  financial  system,  made 
possible  by  the  incapacity  of  lawmakers  to  reconcile  confidence  and 
knowledge,  he  remedied  from  time  to  time  as  occasion  arose  by  bis  own 
tremendous  power  ;  and  that  was  Government. 


9 

What  Mr.  Morgan  did  in  the  settlement  of  the  coal  strike,  what 
he  did  in  the  Panic  of  U)07,  was  Government  as  truly  as  the  leadership 
of  a  nation  acquired  by  one  commanding  figure  who  turns  it  into  an 
army  for  conquest,  or  defence,  is  Government.  He  followed  the 
instincts  of  his  nature  which  made  him  ready  for  public  service 
wherever  there  was  a  public  need  appealing  to  his  knowledge  and  his 
constructive  instinct. 

But  there  is  another  side  of  Mr.  Morgan's  nature  which  appeals 
to  us,  and  that  was  his  kindliness  and  generous  impulse ;  the  capa- 
city for  loyalty  to  every  cause  he  espoused,  which  made  him  a  staunch 
Churchman,  that  made  him  a  significant  figure  in  all  organizations  in 
which  we  have  known  him,  that  made  him  a  philanthropist  and  that 
made  him  a  friend. 

CHe  was  a  great  collector.  He  loved  all  forms  of  beauty.  He  had 
a  sensitiveness  to  impressions — all  the  noble  impressions  of  life  that 
made  him  love  association  with  what  was  great  in  literature,  in 
history  and  in  art.  More  than  that,  he  had  a  sensitiveness  to  all 
the  noblest  feelings  that  dignify  manhood  which  made  his  heart 
open  to  distress  and  sufferingr^  Manj-  men  remain  to  be  grateful  to 
him  for  the  preservation  of  their  fortunes,  of  their  inveslmenls,  of  the 
income  upon  which  depend  the  comfort  of  their  lives  and  the  lives  of 
their  families.  Many  men,  multitudes,  remain  to  thank  him  for 
bringing  to  his  own  land,  and  helping  to  build  up  opportunity  for  the 
people  to  see,  the  great  works  of  art  of  other  countries  and  of  other 
times,  to  thank  him  for  that  enlargement  of  human  happiness  that 
after  men  have  drunken  and  eaten  all  they  can  and  have  worn  all 
the  clothes  and  found  all  the  shelter  they  can,  comes  from  the  cultiva- 
tion of  taste.  Many  men  remain  to  be  grateful  for  his  example  of 
integrity  and  honor,  and  many  men  and  women,  to  bless  him  for  the 
good  done  in  secret.  Many  a  tear  has  been  shed  in  homes  of  which  I 
know  for  the  loss  of  the  simple-minded  modest  benefactor  who  has  done 
good  in  secret. 

The  era  of  development  in  which  lie  lived  and  worked  is  drawing 
to  its  conclusion.     Such  a  career  as  his  may,  and  probably  will  never 


10 


come  again,  for  we  come  to  other  days  and  other  manners,  but  the 
great-heartedness,  the  nobility  of  the  man,  thank  God!  are  eternal, 
and  will  live  with  us  and  in  his  example,  time  without  end. 


11 


A.IJ1)R1':SS  OF  Till-:  IIONOH.Vltl.K  .TOSKIMI  H.  CIKKVTi:. 

FOUMIOR    A.MIJASSADOK   TO  (ililCAT   UltlTAIN. 

Mr.  Presidknt  and  Genti>kmkn. — When  Mr.  Morgan,  in  that 
examination  at  Washington  to  which  Mr.  Koot  has  referred,  to  which 
he  looked  forward  with  so  much  dread,  and  from  which  he  emerged 
with  so  much  glorj,  said  that  "  character  is  the  true  secret  of  all 
success  in  life,"  he  wrote  his  own  epitaph,  and  told  in  one  short  sen- 
tence the  whole  story  of  his  life. 

This  pure,  high,  unselfish  character,  seemed  to  be  inherent  and 
transmissible  in  the  noble  stock  from  which  he  sprang.  I  am  afraid 
few  of  you  remember  his  glorious  immediate,  ancestors  whom  I  had 
the  honor  of  seeing  and  knowing  as  a  young  man  knows  the  old. 
There  was  his  maternal  grandfather,  John  Pierpont,  for  whom  he  was 
named  ;  a  grand  old  hero  and  patriot,  if  there  ever  was  one  ;  a  man  who 
though  7G  years  old  when  the  Civil  War  broke  out,  yet  took  the  field 
as  chaplain  in  one  of  the  Massachusetts  regiments ;  a  man  who  was 
always  a  noble  champion  for  his  country  and  especially  for  freedom. 
Are  there  any  men  here,  I  wonder,  who  were  present  on  the  22d  of 
December,  1855,  so  long  ago,  when  John  Pieri'Ont  delivered  that 
noble  poem  before  the  New  England  Society  in  Dr.  Cheever's 
church  on  Union  Square,  which  stood  on  the  spot  afterwards  occupied 
for  many  years  by  the  golden  temple  of  Tiffany  ?  If  there  are,  then 
they  must  remember  the  splendid  stanzas  which  he  delivered  on  that 
night,  which  were  inspiring  to  the  very  last  degree.  I  recall  the  grand 
Invocation  to  the  (irod  of  the  Pilgrims  with  which  he  concluded. 

"01  Thou  Holy  One  and  .lust. 
Thou  who  wast  the  Pilgrims'  trust. 
Thou  wlio  watehest  o'er  their  dust, 
By  tlie  moaning  sea  ; 
By  their  contiicts.  toils  and  tears  ; 
By  their  perils  and  their  prayers, 
By  their  ashes, 
Make  tlieir  heirs  true 
To  Them  and  Tiiee." 


12 

That  prayer  was  not  uttered  in  vain,  and  this  one  heir,  this  one 
grandson  of  his  whom  we  liave  met  to-day  to  commemorate — the  secret 
of  his  life  was  that  he  was  true  to  the  principles  that  he  had  inherited 
from  his  sires  and  from  the  God  in  whose  sight  he  always  felt  that  he 
was  moving  and  working.  It  was  indeed  a  great  thing  to  be  descend- 
ed from  such  a  man  as  good  old  John  Pikrpont  and  to  bear  his 
name. 

And  then  his  own  father,  Junius  Spencer  Morgan — a  man  whose 
career  and  character  were  singularly  like  his  own.  Entering  life  as  a 
clerk  in  a  store  in  Boston,  moving  on  by  the  pure  force  of  character 
and  conduct  step  by  step,  year  by  year,  decade  by  decade,  until  he  be- 
came a  partner  with,  and  successor  to,  George  Peabody,  and,  like 
him,  one  of  the  noblest  and  grandest  merchants  and  bankers  of  London. 
I  am  one  of  those  who  believe  that  the  stuft'  that  is  born  in  a  man 
contributes  quite  as  much  to  his  success  in  life,  as  what  he  himself  ac- 
quires and  achieves. 

Thus  Mr.  Morgan  had  certainly  a  most  noble  inheritance  to  begin 
with.  I  knew  him  first  when  he  had  just  returned  from  school  and 
the  university  in  Germany  and  was  a  clerk  in  the  office,  I  believe, 
of  Duncan,  Sherman  A:  Company  ;  and  from  that  day  on  until  the 
day  that  he  laid  down  his  life  in  Rome,  it  was  one  continuous,  steady, 
unbroken  march  of  progress  from  strength  to  strength  and  always 
from  glory  to  glory.  Wiien  I  look  around  upon  this  great  company 
of  the  active  merchants  and  bankers  of  to-day,  and  when  J  gaze  upon 
these  walls  from  which  look  down  upon  us  the  portraits  of  the  great 
merchants  and  bankers  of  past  generations,  Mr.  Morgan  and  his 
father  included  among  them,  and  ask  how  it  was  that  he  towered 
above  all  the  rest,  so  that  every  man  in  this  generation,  and  the 
spirits  of  these  departed  would  agree  that  he  was  greater  than  them 
all,  1  attribute  it  not  merely  to  his  inherited  noble  character,  but 
to  the  wonderful  God  given  qualities  of  mind  and  body  that  few  men 
in  any  generation  are  blessed  with.  Mr.  Morgan  had  truly  not  only 
a  sound  mind  in  a  sound  body,  but  lie  had  a  colossal  mind,  and  as 
penetrating  and   subtle  as  it  was   colossal,  in  a  very  wonderful   body. 


13 

He  had  a  genius  for  finance  and  for  great  afi'airs,  and  seemed  to  me 
to  reach  his  conclusions  by  intuition  ;  not  by  study.  I  do  not  think 
he  could  himself"  have  reasoned  out  to  you  the  proeess,es  by  which 
his  great  conclusions  were  reached.  No  problem  could  be  submitted 
to  him  which  he  was  not  equal  to,  and  to  which  he  did  not  give,  by 
the  closest  attention,  the  most  successful  solution  of  which  it  was 
capable. 

It  is  only  once  in  a  generation  that  such  a  mind  is  born  in  such  a 
a  body,  and  Mr.  MoRciAN  made  the  very  best  use  of  it  from  his  first 
entrance  into  the  banking  house  in  1857  until  he  died  in  1913.  And 
then  he  had  certain  other  qualities  which  all  may  hope  to  have,  but 
which  he  developed  in  a  wonderful  degree  ;  and  I  should  say  that  the 
first  of  these  was  loyalty — loyalty  to  his  country,  loyalty  to  all  his 
associates,  loyalty  to  everj'  enterprise  in  which  he  had  engaged,  and, 
above  all,  loyalty  to  himself — to  his  own  noble  conscience  and  to  the 
great  character  of  which  he  was  the  owner. 

Truly  he  exemplified  the  words  of  Shaksperk  : 

"This  above  all, — to  thine  own  self  be  true  ; 
And  it  must  follow  a.s  the  night  tlie  day, 
Tiiou  can'st  not  tlien  be  false  to  any  man." 

He  was  always  true  to  himself,  and,  therefore,  as  you  all  know,  he 
was  never  once  false  to  any  man.  And  then  besides  all  that  greatness 
of  mind  and  body  and  character,  under  that  same  rugged  exterior, 
he  had  one  of  the  warmest,  tenderest,  most  sympathetic  hearts  that  ever 
beat  within  the  breast  of  man. 

I  shall  not  dwell  upon  any  of  those  points  explanatory  of  his  great 
financial  career  to  which  Mr.  Root  has  done  such  noble  justice,  but 
I  do  want  to  say  one  word  about  that  great  heart  within  that  great 
body  and  under  the  dome  of  that  great  head.  It  was  one  of  the 
noblest  of  which  I  think  biography  or  history  gives  us  any  example. 
I  think  that  of  him  more  signally  than  of  any  great  man  that  I  ever 
knew,  we  might  say  even  in  his  sternest  moods, 

"  He  hides  a  smiling  providence  behind  a  frowning  face." 


14 

His  relations  to  his  fellow  men  were  full  of  sacred  and  sympathetic 
kindness. 

I  do  not  believe  that  he  ever  worked  for  money  as  the  chief  object  of 
life.  Monev  to  him  was  a  means  rather  than  an  end,  to  see  how  much 
good  he  could  do  with  it,  how  far  he  could  make  the  blessing  of  what 
he  acquired  e.xtend  to  other  men  and  women.  That  is  what  he  was 
always  in  search  of.  If  the  great  mass  and  number  of  his  gifts  through 
his  seventy-live  years  could  be  recorded  and  accounted  for — and  1  do 
not  think  he  ever  kept  any  ledger  account  showing  what  he  gave  away — 
it  would  be,  I  believe  a  colossal  fortune  beyond  the  dreams  of 
avarice,    approximating   perhaps  that  which  he  has  left  behind  him. 

He  was  the  num  who  led  the  way  in  all  works  of  benevolence,  of 
charity  and  of  good  conduct,  building  up  great  institutions  for  public 
welfare,  hospitals,  churches,  universities,  colleges,  schools,  and  these 
not  limited  to  his  own  immediate  vicinity.  No  appeal  for  a  good 
cause  came  to  him  in  vain. 

So  I  fear  that  that  story  will  never  he  told  in  full,  but  we  know 
enouah  about  it  to  know  that  he  took  infinite  pleasure  in  the  good  that 
he  could  accomplish  in  the  world  by  aiding  the  struggles,  and  mitigat- 
ing the  miseries,  of  his  fellowmen  and  women.  If  that  company  of 
his  beneficiaries  who  were  made  mourners  by  his  death  could  be 
gathered  toeether  and  march  in  procession  before  us,  it  would  astound 
the  world.  And  the  number  of  homes,  that  by  his  unseen  benevolence 
he  has  saved  from  suffering  and  made  happy,  could  not  be  counted 
within   the  score  or  within  the  hundred. 

Yet  this  great  man,  who  was  as  good  as  he  was  great — and  that  is 
what  makes  him  greater  still — this  man  who  was  such  a  patriot,  such 
a  lover  of  his  country,  such  a  constant  benefactor  of  his  race,  was  sub- 
jected often  to  the  most  serious  calumny. 

"  Be  thou  as  chaste  as  ice,  as  cold  as  snow,  thou  shalt  not  escape 
calumny." 

Nobody  ever  found  that  more  true  than  this  great  American,  especi- 
ally during  the  last  twenty  years  of  his  life,  when  he  was  trying,  with 
all  the  ardor  and  vigor  that  was  in   him,  to  benefit  his  fellow-citizens 


15 

and  the  world  at  large.  It  was  instigated  largely  for  political  purposes, 
and  also  by  malicious  rivalry,  but  so  confident  was  he  always  of  his 
own  rectitude,  so  sure  was  all  the  rest  of  the  world  of  his  absolute 
purity  and  uprightness  of  character  that  it  all  slid  away  from  him  and 
did  him  no  harm  whatever. 

I  must  not  occupy  any  more  of  your  time.  The  men  whose  por- 
traits are  looking  down  upon  us  from  these  walls,  and  you  in  your 
counting  houses  and  stores,  will  unite  with  me,  in  saying  that  though 
we  can  not  attain  to  his  dimensions,  we  must  each  according  to  his 
mediocrity,  strive  to  imitate  his  example.  We  must  try  to  be  as 
good  and  pure,  as  true  and  patriotic,  as  benevolent  and  humane  as  he 
was ;  and  we  must  leave  his  memory  as  I  think  it  may  be  safely  left, 
to  the  judgment  of  an  impartial  posterity. 


16 


.Vl>r>RKSS  OF  ROltKRT  W,  rtV:  FORKST.   1<:SQ.. 

VICK-I'RKSIDKXT  t>l'  Till-:  MKTliOl'OI.ITAX   MISKIM   OK   .VRT. 

Mr.  President. — To  those  who  only  looked  at  Mr.  Morgan  from 
a  single  angle,  whatever  that  angle  was,  he  loomed  so  large  that  they 
thought  they  saw  his  whole  stature.  But  from  whatever  point  he 
was  viewed  there  could  only  he  seen  a  small  fraction  of  his  great 
personality. 

To  the  world  of  business  he  seemed  the  embodiment  of  some  titanic 
force,  whether  it  operated  to  save  the  credit  of  a  nation  or  to  re-create 
a  great  enterprise. 

To  such  a  world  it  must  have  seemed  inconceivable  that  this  same 
person  could  halt  his  great  business  projects  to  admire  some  small 
work  of  art,  and  could  lay  aside  both  business  and  arts  to  play  with 
his  grandchildren,  or  to  caress  his  favorite  dog. 

But  such  was  the  real  Mr.  Morgan.  And  to  him  it  was  not  incon- 
gruous to  assemble  the  forces  which  stayed  the  panic  of  1907  for  that 
famous  all-night  session  at  his  Library  in  the  company  of  a  placid 
Madonxa  of  Raphael  and  a  delicate  statuette  by  Donatello. 
There  were  two  of  Donatello's  statuettes  in  his  favorite  corner.  He 
loved  them,  he  was  wont  to  say,  because  they  reminded  him  of  his  own 
children. 

He  was  easily  the  greatest  art  amateur, — the  greatest  art  collector, 
of  his  time. 

Was  it  the  mere  pleasure  of  possession,  the  ambition  to  have  and 
be  known  to  have  the  choicest  objects  of  art,  which  attracted  him  ? 
No,  not  primarily,  though  such  pleasure  and  such  ambition  there  must 
have  been.  He  loved  art  for  art's  sake.  His  taste  was  highly  culti- 
vated and  he  rarely  erred.  He  trusted  his  own  judgment  in  selection, 
and  his  mental  operation  was  as  intuitive  and  instantaneous  when 
applied  to  the  purchase  of  a  picture  as  to  a  business  transaction.  I 
recall  several  instances : 

I  was  with  liim  in   London  at  the  establishment  of  a  noted  dealer. 


17 

The  dealer  took  from  his  pocket  a  miniature  and  said  to  Mr.  Morgan  : 
"You  want  tliat  for  jour  collection."  Mr.  ^[organ  glanced  at  it 
for  a  second.  "  How  much  did  you  pay  for  it?"  said  he.  The  dealer, 
who  evidently  mistrusted  me,  whispered  something  in  Mr.  MoR(iAN's 
ear.  Mr.  Morgan  handed  the  miniature  back  to  him  at  once.  A 
little  later  at  the  same  interview  the  dealer  took  out  another  miniature. 
Said  he,  "  How  about  this  one  Mr.  Morgan?"  The  same  quick  panto- 
mine  was  enacted,  and  ^Ir.  Morgan  put  the  miniature  in  his  pocket. 

I  was  admiring  an  exquisite  Gothic  statuette  in  his  library.  1  said, 
"Mr.  Morgan,  how  did  you  possibly  get  that?"  "Why,"  said  he, 
"  I  was  walking  on  a  street  of  Paris  ;  I  passed  a  man  carrying  some- 
thing under  his  cloak  and  1  saw  that  he  had  a  statue.  I  asked  him 
what  he  was  doing  with  it.  He  said  he  wanted  to  sell  it.  I  took  him 
to  my  hotel  and  in  five  minutes  I  became  its  owner."  Later  his  ex- 
pert friends  told  him  he  had  obtained  a  masterpiece  at  an  insignifi- 
cant price. 

He  frequently  paid  large  prices.  He  used  to  say  "No  price  is  too 
large  for  an  object  of  unquestioned  beauty  and  known  authenticity." 
And  he  acted  on  this  belief  No  wonder  he  vexed  the  souls  of  ama- 
teurs whose  purses  were  more  slender,  and  excited  the  envy  of  museum 
directors  whose  government  grants  were  insufficient  to  compete  with 
him.  But  now  that  he  has  brought  all  these  acquired  treasures  to  his 
and  our  own  country,  which  one  of  us  will  say  that  his  was  not  the 
broader  perspective? 

Mr.  MoR(iAN  was  interested  in  our  Metropolitan  Museum  from  the 
very  beginning.  He  was  one  of  that  courageous  band  of  public- 
spirited  citizens  who  worked  for  a  year  to  raise  the  pitiful  $106,000 
with  which  it  was  started.  He  became  a  trustee  in  1889  and  was 
elected  President  in  1904.  From  then  it  became  with  him  an  absorb- 
ing interest.  He  would  drop  any  piece  of  business  at  any  time  to  give 
thought  to  its  affairs.  I  have  frequently  in  these  later  years  called 
him  up  by  telephone  to  inquire  when  he  could  see  me  conveniently 
about  something,  and  his  almost  invariable  response  was — "right  now. 

I  recall  the   Monday  of  that  famous  all-night  session  which  stayed 


' » 


18 


the  Panic  of  1907.  He  quietly  presided  over  a  long  meeting  at  the 
Museum  that  afternoon,  and  only  after  its  routine  was  all  over  did  he 
quietly  remark  that  he  had  to  hurry  home  to  attend  to  a  serious 
financial  situation. 

Nor  was  his  interest  in  the  Museum  solelv  that  of  a  collector.  He 
found  in  the  re-organization  which  took  place  when  he  became  its  Presi- 
dent ample  scope  for  his  broad,  perspective,  constructive  power.  He 
was  in  deep  sympathy  with  its  recent  development  on  the  side  of  in- 
dustrial art  and  education.  Nor  did  he  ever  look  upon  it  as  a  private 
possession.  It  was  as  a  great  public  institution  that  it  appealed  to 
him.  Nothing  pleased  him  more  than  the  true  democracy  of  those 
recent  receptions  where  he  stood  at  the  head  of  the  receiving  line  and 
shook  hands  with  everyone  who  filed  by. 

An  incident  of  one  of  those  receptions  comes  to  my  mind,  which  was 
eminently  characteristic.  Among  the  approaching  guests,  conspicuous 
from  absence  of  evening  costume,  was  a  woman  with  a  baby  in  her 
arms.  To  the  rest  of  us  it  seemed  an  impudent  intrusion.  Most  men 
would  have  directed  the  attendants  to  remove  her.  Not  so  with  Me. 
Morgan.  He  shook  hands  with  her  as  graciously  as  he  did  with 
other  guests,  and  as  she  passed  by  said  to  me,  "quick,  get  that  baby's 
name,  so  that  I  can  make  it  a  life  fellow  of  the  Museum."  Said  I, 
"  That  will  cost  you  one  thousand  dollars."  "  So  much  the  better  " 
said  he.  He  did  not  stop  before  he  acted  to  inquire  who  that  baby 
was.  He  took  in  the  situation  at  a  glance,  though  he  had  never  seen 
the  woman  before.  She  was  the  wife  of  one  of  our  new  Museum 
attendants,  who  knew  no  better,  who  was  eager  to  attend  the  recep- 
tion and  who  could  not  come  without  bringing  her  baby  with  her. 

Me.  Morgan'  never  saw  all  his  collections  assembled  together. 
Fortunately  for  America  they  are  all  here,  but  only  his  pictures,  and 
not  all  of  these,  have  been  unpacked.  But  I  am  sure  his  satisfaction 
in  havins:  them  exhibited  togetiier  would  not  have  been  the  selfish 
pleasure  of  seeing  them  himself,  but  the  pleasure  the  sight  of  them 
was  giving  to  his  fellow  countrymen.  The  son  spoke  for  the  father 
when   he  said  yesterday — "Do  not  keep  my  father's  pictures  at  the 


19 


Museum  closed  any   longer  out  of  respect  to  his   memory.      Open    the 
gallery  to  the  public.     It  is  what  he  would  have  wished." 

One  of  the  greatest  desires  that  Mr.  Morgan  had  this  last  year  of 
his  life  was  that  the  city  would  provide  for  a  new  wing  to  the 
Museum.  Not  so  much  that  it  would  make  space  in  which  to  show 
his  collections,  (his  were  not  the  only  collections  that  needed  showing 
space)  but  as  an  earnest  of  the  city's  co-operation  with  an  interest  in 
the  great  public  institution  whose  welfare  he  had  so  much  at  heart. 
It  was  one  of  the  last  things  he  spoke  of  before  he  sailed.  I  wished 
he  could  have  lived  until  yesterday  when  he  would  have  known  that 
this  wish  of  his  had  been  fulfilled. 

Nor  was  our  Metropolitan  Museum  the  only  art  institution  in 
which  he  was  interested.  He  had  a  broad  vision  of  a  great  American 
Academy  at  Rome,  formed  by  the  union  of  the  original  Academy 
with  the  American  School  for  C-lassical  Study,  established  high  on 
the  Janiculum  overlooking  the  "  Eternal  City."  That  dream  he 
was  turning  into  reality  when  he  was  taken  away. 

His  loss  to  our  Museum  and  to  the  cause  of  art  would  be  irrepara- 
ble except  for  what,  while  living,  he  has  done,  and  what,  though 
dying,  his  example  will  inspire  others  to  do. 


20 


ADDRKSS  OF  Till':  I  lONOU  Altl.K  Sl-mi  I.O>V, 

I'OR.MlOli  MAVOU   Ol-  Till':  <ITV  t)l'  Nli^V    VOUIv. 

Mr.  President  and  Gentlemen  of  the  Chamber  of  Com- 
merce.— The  members  of  the  Chamber  meet  here  to-day  under  the 
shadow  of  a  great  loss,  but  equally  under  the  inspiration  of  a  great 
career.  Those  who  have  preceded  me  have  presented  Mr.  Mor(4AN 
as  the  massive  figure  he  w^as  in  American  life.  Let  me  try  to  point 
out  some  of  the  more  intimate  characteristics  of  the  man.  This  Cham- 
ber is  full  of  men  who  recognize  Mr.  Morgan's  easy  primacy  in  the 
business  affairs  of  this  community  and  of  the  country  ;  but  how  few 
of  us  have  ever  heard  him  say  even  a  single  word  in  this  Chamber  ! 
Verily,  he  was  conspicuously  a  man  of  deeds,  and  not  of  words  ;  but 
when  an  effort  was  to  be  made  to  put  up  a  building  which  should 
belong  to  the  Chamber  of  Commerce,  one  of  the  first  to  be  turned  to, 
as  a  matter  of  course,  was  Mr.  Morgan.  His  response  was  immedi- 
ate and  generous.  Mr.  Morgan  was  the  first  man  to  whom  I  spoke 
in  connection  with  the  purchase  of  the  new  site  for  Columbia  Univer- 
sity. His  liearty  approval  of  the  plan,  and  his  spontaneous  offer  of 
$100,000  to  carry  it  out,  were  an  immense  encouragement  to  me.  So 
generally  was  it  known  that  Mr.  Morgan  was  both  public  spirited 
and  generous,  that  his  primacy  in  this  regard  was  as  unconsciously 
recognized  as  in  the  financial  world.  For  things  appealing  to  public 
spirit,  it  was  almost  taken  for  granted  that  Mr.  Morgan  would  con- 
tribute ;  and  I  do  not  know  myself  of  a  single  instance  in  which  that 
expectation  was  disappointed.  In  a  certain  sense,  this  attitude  of 
his  became  in  a  way  a  touchstone  as  to  the  merit  of  such  a  proposal. 
If  ^Ir.  Morgan  approved  of  it.  he  gave;  and  if  he  gave,  others 
would  give.  If,  on  the  other  hand,  Mr.  Morgan  was  not  sufficiently 
interested  to  contribute,  the  supporters  of  the  proposal  asked  them- 
selves anew  whether  the  project  which  they  had  in  view  really  was 
worth  while.  The  range  within  which  his  public  spirit  and  his 
benevolence  might  be  appealed  to  was  so  large,  that  it  may  be  said  of 


21 

him,  in    the   words  of  the   Roman  poet,    that  "  nothing   human    was 
alien  to  him." 

As  I  contemplate  Mr.  Morgan's  financial  career  I  am  impressed 
by  one  characteristic  that  seems  to  me  to  be  the  dominant  note  through 
it  all.  Mr.  Morgan's  genius  was  pre-eminently  constructive.  There 
are  a  great  many  men  in  the  United  States  and  all  over  the  world, 
to-day,  who  are  richer  because  Mr.  Morgan  has  lived.  I  doubt  if 
there  are  any  who  are  poorer.  He  accumulated  a  vast  fortune  for 
himself;  but  he  did  it  by  enriching  others  at  the  same  time.  He  did 
not  become  rich  himself  by  making  others  poorer.  He  animated 
others  with  confidence  and  with  courage,  and  in  this  fine  fashion  he 
illustrated  that  faith  that  can  remove  mountains. 

The  C'ity  of  New  York  has  recently  seen  a  fine  illustration  of  his 
quality  and  his  international  influence.  For  two  years  the  city  has 
been  carrying  on  negotiations  in  regard  to  the  dual  subway  plan. 
At  the  beginning,  the  Morgan  Firm,  with  Mr.  Morgan's  ready 
approval,  agreed  to  finance  the  Interborough's  needs,  assuming  a  con- 
tract with  the  city  to  be  made,  to  the  extent  of  $17(),()()U,()0().  The 
negotiations  dragged  along,  month  after  month,  always  getting  a  little 
nearer  to  the  end  but  often  appearing  to  be  on  the  point  of  breaking 
down.  In  all  these  critical  months,  there  has  been  no  moment  when  the 
withdrawal  of  this  firm  from  its  contingent  engagement  to  finance  the 
Interborough  might  not  have  been  fatal  to  the  enterprise.  Much  was 
said,  at  times,  in  the  public  press  that  might  have  provoked  their 
withdrawal  ;  often  the  progress  of  negotiations  was  disappointingly 
slow;  but,  with  a  loyalty  not  less  devoted  than  that  of  the  city  offici- 
als, the  Morgan  Firm  patiently  abode  the  issue,  thus  securing  for 
the  city  of  their  houie  the  happy  outcome  in  which  we  are  all  even 
now  rejoicing.  So  much  for  Mr.  Morgan's  quality,  as  illustrated  by 
his  banking  house.  Consider  this  matter,  no\v,  for  the  light  that  it 
throws  on  Mr.  M:)RGAn's  international  influence.  Hestated,  recently, 
before  tlie  Congressional  Committee,  that  the  syndicate  participa- 
ting in  this  engagement  numbered  286.  The  members  of  it  included 
many  underwriters  abroad,  us  well    as  at  home.      England,    Scotland, 


22 

France,  Genuauj,  Austria,  Holland  and  Switzerland  were  all  repre- 
sented. During  these  two  years  of  uncertainty  the  money  market 
has  not  always  been  easy.  Europe  has  recently  bid  nine  per  cent, 
for  money  on  this  market.  And  when  the  consummation  was  reached 
the  other  day  and  the  contracts  were  signed,  the  financial  sky  was  by 
no  means  so  clear  as  when  the  negotiations  were  begun.  But  of  all 
this  the  city  recked  nothing.  Its  great  citizen,  through  his  banking 
liouse,  had  given  his  word,  and  the  city  knew  that  whatever  else 
might  fail  the  money  would  not ;  for  in  pledging  his  own  faith  he 
had,  in  a  sense,  pledged  the  faith  of  the  world.  This  is  the  manner 
of  man  whose  loss  New  York  mourns  to-day. 

Mv  only  intimate  relationship  with  Mr.  Morgan  was  in  the 
Vestry  of  St.  Georgs:'s  Church,  of  which,  at  the  time  of  his  death,  he 
was  the  Senior  Warden.  He  became  a  Vestryman  in  1868  ;  Junior 
Warden  in  1885  ;  and  Senior  Warden  in  1890.  You  all  know  how 
manifold  and  how  great  were  the  affairs  with  which  Mr.  Morgan 
dealt  ;  but  he  always  had  time  for  St.  George's.  When  he  was  in 
the  country,  I  think  he  never  missed  a  meeting  of  the  Vestry  ;  and 
in  these  meetings  he  manifested  as  alert  an  interest  in  the  welfare  of 
the  Parish  as  he  could  have  shown  in  the  largest  enterprise  with 
which  he  was  connected.  In  a  just  definition  of  the  word  "great,"  I 
am  not  sure  that  Mr.  Morgan  did  not  think  St.  George's  Church, 
with  its  manifold  ministries  to  the  neighborhood  in  which  it  stands, 
the  greatest  interest  he  had.  While  he  always  stated  his  views  with 
candor,  lie  took  great  pains  to  make  his  fellow  Vestrymen  feel  that 
their  views  were  as  well  entitled  to  consideration  as  his  own  ;  and  he 
always  accepted  gracefully  the  decisions  of  the  majority.  Mr.  Mor- 
gan attained  an  eminence  so  high,  that  I  like  to  think  that  it  was 
his  generous  support  during  many  years  which  has  made  this  great 
free  Church  a  [)08sil)ility.  I  know  of  nothing  which  reveals  so  clearly 
the  essential  democracy  of  the  man. 

I  once  heard  my  father  say  of  a  certain  firm  that  they  were  "  money 
good."  I  asked  him  wliat  he  meant.  His  reply  was  "  They  have 
money,  but  not  character.      You   can  sell  them    for  cash  as  much   as 


23 

you  please,  but  give  them  no  credit."  If  Mr.  Morgan  could  sum- 
marize in  a  word  the  lesson  that  he  would  like  his  countrymen  to 
learn  from  his  business  career,  I  believe  it  would  be  that  character  is 
better  than  riches.  That  a  man  should  be  trustworthy  ;  that  is  to 
say,  worthy  of  being  trusted,  was  in  his  view  the  thing  that  counts. 

Mr.  Morgan,  during  his  long  life,  did  much  for  Art ;  much  for 
Science ;  much  for  Education  ;  much  for  the  cause  of  Religion  ;  but 
I  doubt  if  anything  that  he  did,  or  all  that  he  did,  surpasses  in  value 
to  the  American  people  and  to  our  generation  his  impressive  insistence 
upon  character,  as  the  one  fundamental  and  eternal  essential  for 
business  success  that  is  worth  while. 


24 


MINl'TK  ^VX]>  RKSOLT'TIONS 

PRKSKNTKl)    HV     I'R.VXK     A.     VAXOIOUI.Il',     ].:S(^., 
i'iji:sini:NT  of  tiik  x.vtionai-  city  bank. 

We  have  lost  a  leader.  Our  country  has  lost  a  noble  citizen.  Other 
countries  too  are  mourning  the  passing  of  a  great  hearted  man,  a 
private  citizen  wliose  high  character  and  dominant  personality  made 
a  world-wide  impression,  and  whose  loss  has  caused  world-wide  sorrow. 

The  death  of  John  Pierpont  Morgan  brings  us  together  to-day  to 
give  expression  to  the  grief  of  a  whole  nation.  It  is  fitting  that  we 
should  inscribe  upon  our  tablets  for  posterity  a.  lasting  tribute  to  his 
name  and  our  reverent  and  affectionate  memory  of  his  character  and 
noble  qualities. 

The  responsibilities  of  great  power  rested  long  upon  his  shoulders. 
Rarely,  if  ever,  has  a  private  citizen  swayed  such  power  ;  but  in  a 
true  sense  it  was  not  the  power  of  a  private  citizen, — it  was  the  dele- 
gated authority  of  an  international  constituency  that  trusted  him,  and 
by  their  franchises  freely  selected  him  as  their  representative  and 
trustee.  He  commanded  because  he  was  endowed  through  nobility  of 
character  with  the  right  to  command.  He  was  strong  because  he  ever 
saw  in  power  only  the  opportunity  for  right  doing.  He  was  trusted 
with  vast  administration  because  pre-eminently  he  recognized  fully  the 
high  responsibility  of  trusteeship.  He  was  a  leader  of  men  because  in 
him  men  saw  right-mindedness,  purity  of  purpose,  great  courage, 
breadth  of  vision,  wise  optimism,  and  always  a  relation  to  his  associates 
and  to  society  that  subordinated  self-interest  and  emphasized  his  desire 
to  be  of  service. 

Let  the  career  of  this  man,  the  position  he  attained,  the  influence 
he  wielded,  stand  ever  as  a  refutation  of  the  thought  that  business  is 
without  sentiment.  His  great  power  over  men  had  its  roots  in  sym- 
pathy. It  was  a  quality  of  spirit  that  gave  him  the  power  and  domi- 
nance which  he  so  rightfully  maintained.  His  was  not  a  leadership 
of  cold  intellect,  but  of  high  character,  of  inflexible  trustworthiness, 
of  broad  sympathies,  of  a  desire  always  to  upbuild  and  develop,  and 


25 

to  be  of  service  in  the  largest  measure  to  his  community,  to  his 
country,  and  to  many  countries, — for  he  was  truly  a  citizen  of  the 
world  ;  be  it,  therefore 

Resolved,  That  the  Chamber  of  Commerce  of  the  State  of  New  York 
directs  that  there  be  placed  upon  its  records  its  sentiments  of  deep 
reverence  for  the  memory  of  John  Pierpont  Morgan,  man  of 
character  ;  its  enduring  appreciation  of  the  dominant  force  for  good 
which  he  wielded  through  a  long  life  of  masterful  endeavor  and  far- 
reaching  accomplishment ;  and  be  it  further 

Resolved,  That  a  copy  of  these  resolutions  be  suitably  engrossed 
and  sent  to  the  family,  and  that  the  entire  proceedings  of  this  meet- 
ing be  compiled  in  a  memorial  volume. 

The  minute  and  resolutions  were  unanimously  adopted  by  a  stand- 
ing vote. 

The  Chamber  then  adjourned. 


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